MMi Daily Iron Ore Report (July 30)

As of July 30, iron ore inventories across 35 ports tracked by SMM totaled 120.7 million mt, up 740,000 mt from the previous week and up 14.77 million mt year-on-year. Daily average deliveries from the 35 ports decreased 174,000 mt on a weekly basis to 2.28 million mt last week. Inventory at two major ports in Tangshan grew 4.6% as heavy rain caused the daily average deliveries from ports to fall 12% to 317,000 mt and as arrivals continued to increase.